Meaning of the word hi-fi in English

What does hi-fi mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

hi-fi

US /ˈhaɪ.faɪ/
UK /ˈhaɪ.faɪ/

Noun

electronic equipment used to play recorded sound, especially music:

Example:
I've just bought a new hi-fi.